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LONDON (Alliance News) - Shares rose in Pathfinder Minerals PLC on Monday as Executive Director Nick Trew stepped down from his role with immediate effect.
He will be replaced by Scott Richardson Brown, who has been promoted from a non-executive director.
Shares in the Mozambique-focused miner rose 17% to 1.38 pence on Monday.
Trew has been an executive director since May 2018, following a reshuffling of leadership which saw him out of his position as chief executive, which he had held since 2011.
Since March, Pathfinder received two requisitions seeking the ousting of both Trew and Chairman Henry Bellingham out of their positions at the time.
"The directors thank Nick for his unwavering commitment and persistence in preserving the company's prospects of achieving a resolution to Pathfinder's dispute over mining licences in Mozambique," Pathfinder Minerals said in a statement.
